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Let’s start by reminding you what Fintech is. This is the name given to finance companies that use technology as their main tool. The concept is a composition of the words financial and technology. What differentiates fintech from traditional finance companies is the use of technology in each of the processes they perform.

The biggest benefit they offer you apart from being able to finance your SME is the speed with which they manage to give you an answer. Likewise, the processes they handle increase customer satisfaction.

Why is time money?

Asking for a loan in the traditional way can take you days that you could be investing in your business and its improvement. Order one in a fintech shortens the term and the journey to an establishment. They can also offer you a better option of products.

If you acquire a credit in this type of company these are other advantages that you can have:

Less requirements

Since the fintechs are totally technological, each of their processes with clients is through digital tools. Your request is through internet and the documents that you request are also sent in this way. It is more convenient to request a loan in this way since they have the facility to acquire more information with less requirements.

But clearly here many entrepreneurs fear, but they need to trust since there are laws that regulate them. It is very difficult that your information is in danger, especially if you choose correctly and investigate the company.

Lower cost

The credit they offer may be greater than others. The interest rates they establish are lower than traditional banks, because they reduce many additional costs that this would charge you. They are the best option if you are undertaking them as they are fully adapted to the needs of each of the clients and their SMEs.

Greater financing

Since they are adaptable, your financing could be better and better if you manage it properly. Of course they evaluate important data to analyze your ability to pay and based on that make you an offer. We recommend you stay up to date with your financial knowledge in order to benefit your SME, improve your credit history and the profitability of your business.

Are they for SMEs?

The index indicates that more than 80% of economic units in Mexico are considered small and medium enterprises. Which is very important for the development of the country. The fintech’s mission is to cover the bias that the big banks leave behind: SMEs and their momentum.

If what you want is a credit and ask for it in the easiest way and without wasting time this is the option.

Remember that you should thoroughly investigate the company that you decide to feel comfortable giving your data. But above all that the offer you provide is not only the best but the appropriate one.

Does the tax office charge you half a percent interest per month? Do you need a credit for tax debts, because with the treasury is not “eating good cherries”? Are you an employee or do you work on an independent basis?

Below you will find authentic information on financing options to offset the tax debt. To wait too long for the goodwill of the tax authorities is not advisable.

Otherwise, there will be additional costs and negative credit quality added to the lending rate. The longer the taxpayer waits, the worse the credit opportunities.

Credit for tax debts – no pardon for taxpayers

It is undeniable that nobody takes credit for tax debts because he is so looking forward to finally making his “contribution to the common good”. The majority of taxpayers are even annoyed about how and for what the money is spent. To refuse in principle does not help. In the vast majority of cases, state power ultimately enforces its demands.

Every taxable citizen can be affected. Salaried employees as well as self-employed and freelancers. Just no time for the tax return, lack of knowledge or lack of money to pay the tax does not apply. The instrumentation to force defaulting taxpayers to action is gigantic. After expiry of a prescribed period, the instruments will start up.

The late filing of the tax declaration can result in a tax assessment. It is estimated that in all probability, a tax debt arises. Late payments are subject to interest at 0.5% per month. In addition, usually fines. It is relatively irrelevant to the tax office as to whether a debtor can currently afford his tax payment or not.

Credit tip – operate damage control

To mitigate damage usually serves the credit for tax debts. The sooner the application is made, the greater the real financing prospects, and the lower the amount of credit required.

If the tax office secures, it will be really difficult to take advantage of offers to finance the backward tax burden.

Loan offers – Employees with tax liabilities

Tax debts can arise equally among employees and the self-employed. The risk for employees is only more moderate because the employer deducts the income tax directly from the gross income and remits it to the tax office. Banned is the danger to become a defaulting tax debtor, but still not.

It is much easier for employees subject to social insurance to easily accept appropriate credit for tax debts. Facilitators expect creditors, since the legally required credit check for employees is much easier to exist than for self-employed, solo entrepreneurs or freelancers.

The best approach to easy credit search is provided by loan comparisons. Consumer credit for employees is offered in large numbers. The interest level is even well below the level of the tax office settled. For very small loan amounts, if luck comes along, the annual percentage rate is even below one percent. With good credit ratings, around four percent would have to be paid throughout.

Credit for the tax – self-employed

In the credit comparison with a credit for tax debts can find also self-employed and solo entrepreneur. However, it is somewhat more difficult to obtain the conclusive, recognized credit assessment. In this case, the resulting debt in income tax even have a positive effect on the loan opportunities. A tax debt on income tax arises from profits.

Even if the profit itself is already spent again, nevertheless the money was earned. Securing a profit on a regular basis lays the foundation for repaying a loan. Some credit institutions, such as barclaycard, use recent recent tax assessments for credit checks. The loan approval comes when the profit appears sufficiently safe and high.

He must bear all the usual household costs and also enable the borrower to pay the installment on time. Under these conditions, the interest rate, for loans for tax debts self-employed and freelancers, is at a comparable level to the employee credit. It would be more difficult to obtain the loan approval if the trade only runs for a short time or if little profit is made.

Credit for the tax arrears – problem for difficult cases

Especially at the income level of solo self-employed people can unfortunately be seldom talk about adequate profit. The income is just enough to cover the urgent costs and livelihoods. Solo workers often “toiled” around the clock. The tax office is not interested in whether the hourly wage is only € 2 or corresponds to a manager’s salary.

It only counts how high the arithmetical tax debt is. If you have 10,000 euros to pay tax, they can be earned in just a few days, as well as throughout the year. The tax debt is the same if there is no one-off transaction. Against this background, a sufficient creditworthiness, according to the legal requirements for bank credit to prove, is extremely difficult.

Problem solving the bank loan:

A viable option would be to prove personal creditworthiness by lending additional credit. It would be possible to pledge a valuable security of security, for example, a paid property. Another simpler alternative would be the loan for the tax debt with solvent guarantor. In this case, the credit institution assesses the mutual creditworthiness of both borrowers together.

Credit for tax debts – take private credit offers

An alternative to loans from banks is creating credit portals through the serious mediation of money from private lenders. The credit portals Smava and Auxmoney enjoy a particularly good reputation. The granting of credit for tax debts of private investors is not tied to the strict requirements of bank lending for the self-employed.

For private lenders, the legislator grants the self-responsibility to decide freely to whom to grant credit. Each investor sets their own yardsticks according to which criteria he submits his bids. Each bid finances only a portion of the desired loan amount. The credit for tax liabilities would be approved as soon as sufficient bids have been received and accepted.

For creditors to make the credit approval a little more palatable, to offer credit privately on these credit portals various options. Firstly, it is important to unlock the free certificates. They create risk transparency at a professional level and at the same time trust. In addition, the required credit for tax liabilities could be additionally secured. The additional security would be possible through the deposit of the car letter.

It is very difficult to decide if you own an SME what financing is right for your business. That’s why we want to give you the necessary information so you can choose between SME credit or leasing. Maybe the second term is unknown, but with the growth of SMEs in Mexico, new credit models have been created that help both an entrepreneur and an SME owner to continue with their projects.

Next, we will tell you what each one is and which one is best for your business:

Leasing

Leasing has emerged as a loan that works similar to a common lease. That is, it is totally an agreement between a financier that allows to facilitate the use of physical goods such as machinery, transportation, real estate and even technological systems that allow improving the processes of your business. But the good belongs totally to the financial company, while you are paying an income every month for its use. In a few words you can finance 100% of the value of the purchase of what you need, while you pay month by month for the use of that good.

SME credit

The term SME credit will sound more common, but we want to make clear what it is; This type of financing is very specific for small and medium enterprises that want to grow and reach new horizons. Since it does not limit its use to the acquisition of goods, but adapts to that and all the needs that may arise in a business. For example, to raise your capital, improve your inventory, finance a specific project or even expand your business among many other actions.

Which one suits you?

The main point of comparison, depends on the need or needs of your business at this time. That is, you may need to improve production or provide a more complete service, then leasing could help you to solve your need. But if, in addition to that, there is something unforeseen with your inventory or you achieve a very important business opportunity, which will make your SME grow, you would have to apply for a loan elsewhere. What would make your level of indebtedness grow with the possibility of losing liquidity for your entire business.

We can say that an SME loan brings greater advantages, since you can finance your machinery, software or transport fleet, and also use part of that amount to enlarge your staff, expand or remodel. Also with this type of financing you have complete control, because you can choose what and how to invest to achieve the goals of your business.

As you can see, the facilities and advantages of an SME loan on leasing are higher. With one you get an amount of money that you are free to use and with another you can only acquire one good for a certain time.

Learn more about credit for small and medium businesses in our blog and enter Herne the Hunter so that in just minutes you can discover how much we can offer to boost your business.

A loan rescheduling despite negative private credit is basically possible. It makes sense to take such measures if they lead to interest savings or a necessary reduction in monthly loan installments.

Possibilities of rescheduling through a bank loan with low private credit

Bank customers who want a loan rescheduling despite negative private credit for saving reasons, are in a comfortable situation. If they find no cheaper than the previous loan offer, they let their current loan agreement exist. An interim deterioration in the credit rating does not entitle the lender to an extraordinary termination of the contract, provided that the customer duly settles the installment for the specific loan.

A second reason for a desired credit rescheduling despite negative private credit is the need to reduce previous monthly payments. In this case, the bank customer first asks his current contract partner for a term extension. In the event of a refusal, he is looking for a new loan agreement with a longer term and a resulting lower monthly payments.

A private creditfreies loan is a way to borrow for the necessary rescheduling with negative private credit.However, often cheaper is the installment loan of one of the few domestic banks, the credit applicants for a soft or finished negative feature in the credit rating not generally reject. These few banks explicitly point out the possibility of lending to weak private credit on their respective homepage.

Another way to make a loan rescheduling despite negative private credit is the joint loan application with another applicant. His credit report must not contain a negative feature, and he must also receive a regular income in sufficient amount. A credit guarantee is also possible but not accepted by all banks. The reason for preferring a joint loan over a guarantee is that courts sometimes do not recognize the latter if the bank has not fully assessed both its economic performance and its knowledge of the risk with a private guarantor.

In many cases, a reputable credit broker makes it possible to carry out a loan rescheduling despite negative private credit on favorable terms. His achievement consists not only in the search for a possible loan, but also in the comparison of different offers. Thanks to their excellent market knowledge and the great demand that they embody, credit intermediaries are often even successful for clients whose directly submitted loan applications had previously been rejected by the banks. A credit service provider acts seriously when it foregoes the calculation of advance costs and only bills the customer for an appropriate success fee.

The peculiarities of a loan remission

In the case of a loan remittance, the desired amount of money is not entered in the current account of the borrower. Exceptions are a potential top-up amount and the portion provided for the account balance. The other amounts, however, are transferred by the new lender to the existing loan accounts, so that they are balanced after the rescheduling. A credit increase means that the bank customer not only replaces the existing liabilities, but also receives a supplementary loan amount. Most financial institutions pay out a certain surplus anyway, by even in a rescheduling the rounding up to a divisible by 1000 amount of credit.

When choosing the new loan for its loan rescheduling despite negative private credit the lowest possible annual percentage rate is the key criterion. Also important in the loan agreement agreed options for an occasional installment or the contractually assured later change the repayment plan on customer request. The right to special repayments is significant for eventual renewal of credit on further interest rate cuts.

A personal loan for rescheduling despite negative private credit

A private loan for debt rescheduling despite negative private credit requires in addition to the inclusion of the applicant as a loan-seeking member in a loan exchange that one or more investors subscribe the full amount. For the registration on the platform, a soft or completed private credit negative feature is not a hurdle.

As far as actual lending is concerned, many private mortgage market investors follow social considerations. They therefore support the request of a loan seeker, who urgently relies on lower monthly payments, rather than the loan request of an applicant who is looking for a cheaper loan through a rescheduling. In addition, the most accurate description possible of the personal financial situation and the reason for the planned rescheduling for a quick drawing of the loan request is advantageous.

Restaurant credit can make a difference in your business and become an instrument that accelerates your growth. The number of restaurants in Mexico grew by 6.5% during 2017, which forces establishment owners to look for differentiators and create strategies that generate positive experiences for their clients.

Having a credit for restaurants will help you cover different expenses and not lose liquidity. From maintaining the workforce and buying supplies; until doing a remodeling or opening a new point of sale.

I share 4 strategies that you can implement in your restaurant to create a value offer for your customers.

# 1 Redecorating your restaurant

Giving a new look to your store can help you attract new customers. Before redecorating, define the theme of your restaurant and the food you offer. The decoration will be different if it is a restaurant with Mexican food and one with French food. The goal is to create a pleasant atmosphere for your clients and create a different experience.

# 2 Hire talent

The food says a lot about a restaurant and like in any business, the talent you hire will make a difference. Hiring a Chef to change the menu can help you differentiate yourself from the competition. When talking about talent, it is also important that you analyze the capacity of the staff. A quick service and friendly service can be a differentiator of your restaurant. If it is necessary to increase your workforce, do it!

# 3 Acquire new equipment

From a coffee machine to an oven that allows you to increase your production capacity. As a business owner you will know that buying kitchen equipment can be a complicated area. Before deciding to change or acquire a team, analyze the needs of your business and the tastes of your customers. Make sure the team generates value for your restaurant. Remember that not all machinery must be new, there are products that already had use but are in good condition.

# 4 Open a new store

Many of the large restaurants started with a small store and were growing as the market required. Analyze if your business is ready for a new branch and request a loan to finance it. Carrying out a profitability study will help you make a better decision when requesting financing for your project.

As we mentioned at the beginning of the post, restaurant credit can become a tool that accelerates your growth if you use it in the right way. Analyze your market, define the objectives you want to achieve and choose a strategy to provide a new experience to your customers.

When it comes to a desired investment, such as a new car or a special holiday, many Germans put in addition to their savings on the inclusion of an additional small loan. This is mainly due to the current low-interest phase, because the terms are currently also particularly attractive in the area of ​​unsecured personal loans. By the term “small loan”, most banks and credit institutions understand an installment loan with a maximum loan amount of 5,000.00 euros.

To record small loans on the Internet

Small loans are usually granted without collateral and returned within 12, 24, 36 or 48 months. From the point of view of the borrower, small loans are recommended in order to obtain short-term and uncomplicated debt capital, which can, for example, help with the financing of a wish or the bridging of a financial shortage. Applying for a small loan is relatively straightforward compared to other loans with a significantly higher loan volume. As soon as a borrower has fixed, monthly income and Private credit information is available with an overall result that can be described as “in order”, there is nothing standing in the way of most small banks. The Internet is used by most borrowers to find the cheapest possible bank for the loan project in the context of a loan comparison.

The credit comparison on the Internet

A particularly good point of contact to obtain market transparency in the field of small loans is the portal “Financingore”. The comparison portal offers easy and with the help of a few mouse clicks a cross-bank and meaningful overview of conditions for a personal microcredit. Both classical branch banks and numerous direct banks are examined with regard to their possible terms. As a user, you get a quick overview of the interest rates. All you have to do is to specify some data for the desired microcredit using a configurator. These data include, for example, the loan amount, the desired term and the intended use.

After getting a first interest rate overview, you can apply directly to individual banks. Of course, many more personal data come into play here and you also have to provide information on the living situation and the personal inputs and expenses. In the end, however, you have as a result a completed loan application with the first place winner of the previous loan comparison or at the selected bank. Financingore is an independent portal which offers prospective borrowers an easy and uncomplicated market overview, especially in the area of ​​small loans.

Conclusion: Small loans can be requested very well over the Internet. It is a mistake to think that you can get a small loan up to 5.000,00 Euro unbureaucratic and just at his house bank. In addition, online comparison portals help to identify the best possible bank for the respective loan project.

If you are determined to apply for a loan for your SME, the main thing you must do is research, either online or physically, in order to know all the financial institutions that offer business loans, as well as the different types that exist. Then we will start by telling you basic things about the credits so that later you can find the right one.

Today, the possibility of a small or medium-sized company acquiring a credit from any financial institution is greater. Well, if we analyze the panorama of SMEs in Mexico, they contribute 42% of the Gross Domestic Product of the country.

Types of credit that exist for an SME

First you must know that there are different types of financing specifically for business. They are all different, either because of the way they offer you money or where it is obtained from.

Seed capital

Seed capital is a form of financing obtained through a close circle of people. It is very common among entrepreneurs at the stage where the company is barely created. It is usually to resort to your family or friends to ask for the loan and be able to solve your business. Obviously this form of financing is conditioned to a promise of payment, which will be well accepted if they trust you.

Crowdlending

This type of financing is managed as a collection of money from different investors. The most common way to reach them is through online platforms. Where you register your project or business for investors to evaluate if they want to contribute money so you can do it. Here the interest is very important because it is how they get the benefit of lending you.

SME credit

This type of credit is the most focused on the growth of business. Since it is offered by most institutions that operate either as banks or as financial institutions. The management of this is through an amount that you offer, with certain interests and a certain period to settle. It is highly recommended for when you have to carry out a large project in your company or if you really need the money immediately.

Financial leasing

Financial leasing is a new way of financing some aspects in business (with aspects I refer to physical assets). This gives the opportunity for you to use tangible or intangible assets, which you need to operate or produce your product or service in exchange for a monthly payment that defines the value of said good or goods. It works like a lease but in the end there is the option that you can buy the material that financed you and become a permanent tool within your business.

Why is credit an investment?

To help you a little more in your research knowing where you can apply for a loan, you must be aware of what it means to have it and to see it as an investment.

A loan is a loan of money that is given in order to help pay for certain expenses. Having it implies both responsibility and good management of your finances, this will make your experience a positive one. But for you to visualize it as an investment and not so much as risky, you must be very clear about what you will use it for, and above all, that the use you make of it will really make your business grow.

If you make a strategic plan in which you can control the use that you are giving to that money you will see that it will be easier for you to measure the results that are being generated within your SME.

What would be the ideal credit for a business?

The ideal credit for a business is not standard. That is, it must be the one that adapts to the needs of your SME but above all to their capabilities. As you will see, what you want to do with what you can offer depends a lot. You must compare amounts, interests and terms. Like the conditions that each institution establishes. With that you can choose the best and be able to give that boost that your SME needs.

How and where to look?

The way you can start your research can be online. Many institutions that are also physical (banks) have a website in which they share information. But to apply for the credit it is mandatory that you go to their branches. The interesting thing in your search is that whether you choose a crowdlending or an online financial you have to see that they are safe. There are institutions that regulate them like the Condusef. The advantage of you focusing your search on financings that are totally online is that you get a quick response for any information or procedure.

Tools that help in your search

So that you can compare perfectly the institutions place a tool on their website called “simulator”. Which helps you to give you an estimate of how much you could get in amount, how much to pay monthly and with what interest rates. One tip is that you can already have a real budget ready for you to write the amount and the simulator works better for you.